Brazil’s foreign trade shrinks by $14 bn

Brazil’s foreign trade contracted by $14 bn in the third quarter compared to the level before the covid-19 pandemic in the fourth quarter of 2019, show data from the Organisation for Economic Cooperation and Development (OECD). Brazilian exports declined by $3.8 bn between July and September compared to before the pandemic. Imports contracted much more, by $10.2 bn.

Source: Valor Investe

Project enables purchase of solar or wind energy equipment for low-income families

The creation of low-interest credit lines for low-income families to purchase photovoltaic and wind energy equipment is the objective of the Law Project (PL) 5,239/2020, The justification is that families with lower purchasing power feel the economic crisis much more strongly and in this population range, the electricity bill has significant weight on the family budget.

Source: Money Times

Cost for Braskem of Alagoas geological problem rises to $2.2 bn

Petrochemical Braskem saw the cost for closing its rock-salt operation in Alagoas rise again, which authorities blame for causing land subsidence in the capital city Maceió. In addition to the R$8.5 billion ($1.5 bn) it had already set aside for the case, it now expects to spend another R$3 billion ($555 mm) to close the mine, for a total of R$11.5 billion ($2.2 bn).

Source: Valor Internacional

Facebook announces selected startups for acceleration program

Facebook and the accelerator Baita, based at Unicamp, announce the ten startups that will be developed through their Campo Digital program. The project seeks digital solutions for Brazilian agribusiness focused on small and medium producers. It is the first Facebook program to accelerate startups with solutions for agriculture in Latin America.

Source: 6 Minutos UOL

Biomass generation drops 6.8% in October

In the driest October of the last 90 years, bioelectricity generation helped to alleviate the impact of the water crisis on hydroelectric reservoirs, reaching more than 3,000 GWh at the SIN, although there was a 6.8% drop in production compared to October 2019, but reaching more than twice as much as coal generation and 60% of the total generation by gas thermal plants in the month.

Source: Canal Energia

Pandemic causes reduction of foreign investment in the country

The crisis generated by COVID-19 has led to a reduction in foreign investment in the country’s productive sector. Investments in stocks, bonds and investment funds show signs of reaction, according to data from the Central Bank. Net inflows in direct investments in the country, which go to the productive sector of the economy, totalled $1.793 bn last month, compared to $8.221 bn in October 2019.

Source: Money Times

Offshore wind energy enters Brazilian radar and attracts Equinor and Neoenergia

Brazil’s potential for power generation with offshore wind power plants has entered the radar of government technicians and companies such as the oil company Equinor and the electric company Neoenergia. The state company EPE said it has seven offshore wind projects in national waters that are in the licensing phase, which would total capacity of up to 15GW, close to the 16GW currently operating on land.

Source: UOL Economia

Cemig SIM advances to residential segment

Cemig SIM started last week to register for pre-sales of solar energy by subscription for customers in the residential segment. According to the company, as of January, customers who have pre-registered will have 15% discounts on the monthly tariff, with no obligation to comply with the loyalty period. Cemig SIM’s goal is to serve 1,000 new contracts in the first three months of 2021.

Source: Energia Hoje